Intel shares were up about 6% on the day, adding to earlier gains after reports that President Trump is set to announce the U.S. government is taking a nearly 10% stake in troubled chipmaker. The investment would cap a two-week frenzy in Washington over the future of the company.

Intel stock rallies as Trump confirms a 10% US government stake, sparking debate over state capitalism, reshoring benefits, and long-term risks for investors.

President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America.